Envestnet Portfolio Solutions Inc. acquired a stake in Packaging Co. of America during the third quarter, bringing notable changes to the institutional investment landscape. Explore the details of the acquisition and the recent activities of other institutional investors in PKG.
Envestnet Portfolio Solutions Inc. acquired a new stake in Packaging Co. of America (NYSE:PKG) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,342 shares of the industrial products company’s stock, valued at approximately $667,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PKG. Barclays PLC lifted its position in shares of Packaging Co. of America by 141.6% during the 2nd quarter. Barclays PLC now owns 270,926 shares of the industrial products company’s stock valued at $35,805,000 after acquiring an additional 158,780 shares during the period.
CWM LLC raised its position in Packaging Co. of America by 10.5% in the second quarter. CWM LLC now owns 1,700 shares of the industrial products company’s stock valued at $225,000 after purchasing an additional 161 shares during the last quarter.
Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Packaging Co. of America by 16.7% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 700 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 100 shares during the last quarter.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Packaging Co. of America by 14.2% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 86,831 shares of the industrial products company’s stock valued at $13,333,000 after buying an additional 10,769 shares during the period.
Finally, Bahl & Gaynor Inc. increased its stake in shares of Packaging Co. of America by 114.4% in the third quarter. Bahl & Gaynor Inc. now owns 103,625 shares of the industrial products company’s stock valued at $15,912,000 after buying an additional 55,282 shares during the period. 90.53% of the stock is owned by institutional investors and hedge funds.
PKG has been the subject of several recent analyst reports. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. Wells Fargo & Company raised their target price on Packaging Co. of America from $147.00 to $173.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 30th.
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